Submitted by inima23 t3_yfsvyb in personalfinance
tacotruck2112 t1_iu64smq wrote
If you earned less than $130k at that company in 2021 (and are not a 5% owner), then you are not HCE in 2022 and may contribute as much as you want up to irs limits.
If you will earn more than $135k in 2022 (and still not an owner), then you probably are an HCE in 2023 and may be limited in 401k next year. Generally, HCEs may contribute up to 2% of pay more (on average) than the average contribution rate of NHCEs.
inima23 OP t1_iu6bhte wrote
Thanks for confirming this!
Viewing a single comment thread. View all comments